New data from a leading European retail survey has crowned the Serravalle Designer Outlet in Italy as the most profitable outlet in Europe, surprising industry insiders who had long seen the Netherlands’ Roermond center as the undisputed leader. For the first time since the annual Outlet Centre Performance Report began in 2008, an Italian location has taken the top spot, signaling a shift in Europe’s outlet retail landscape.
Southern Europe’s Shopping Scene Gains Global Traction
Located in the scenic Piedmont region between Milan and Genoa, the Serravalle Designer Outlet has emerged as a heavyweight in the outlet retail sector. The center, operated by McArthurGlen, boasts nearly 250 shops spread across more than 50,000 square meters and attracts approximately six million visitors each year. Its village-style layout, proximity to major tourist routes, and growing reputation for high-end brands have made it a destination not just for Italians, but for international shoppers heading to or from the Riviera coast.
“Serravalle has firmly established itself as one of the best-performing outlet centers in Europe,” said Dr. Joachim Will, Managing Director of ecostra, the consultancy behind the report. “This year, it finally surpassed Roermond, which had consistently held the number one spot for years.”
The 2024 report, produced in partnership with French research institute magdus, surveyed brand manufacturers across Europe. Respondents evaluated outlet centers based on profitability and operational satisfaction. The results reveal a broader trend: outlet centers in Southern Europe—particularly Italy, Spain, and Portugal—are catching up fast, with five of the top ten spots now held by outlets in these sunny, tourist-heavy regions.
The Rise—and Risks—of Southern Europe’s Outlet Scene
The Serravalle victory is emblematic of a broader momentum shift. Spain’s Designer Outlet Malaga and Portugal’s Porto Fashion Outlet also made the top five, alongside Roermond and Ireland’s Kildare Village. According to Dr. Caroline Lamy of magdus, the performance surge in Southern Europe can be attributed to climate, tourist influx, and competitive local markets.
“Southern Europe now offers some of the highest-performing outlet centers in Europe,” Lamy noted. “That wasn’t the case even a decade ago. The change reflects both smarter retail strategies and evolving consumer habits.”
However, this success doesn’t come without challenges. High competition means operators must continuously invest in store quality, marketing, and tenant satisfaction. And while tourism bolsters foot traffic, long opening hours and rising operational costs—especially for staffing and energy—pose ongoing concerns for outlet tenants.
Winners, Losers, and Surprising Shifts in the Outlet Rankings
While Southern Europe celebrates its gains, other parts of the continent are feeling the chill. Germany’s Fashion Outlet Marl once again landed at the bottom of the rankings, joined by low performers in Switzerland and the Netherlands. By contrast, France’s Designer Outlet Roubaix and the Netherlands’ Rosada outlet in Roosendaal have improved their standings, showing it’s possible to climb the ladder with the right changes.
The report also reveals that outlet stores continue to outperform both high-street retail and online shops in terms of profitability, although the gap between online and physical outlet sales has narrowed over the past decade. Outlets remain a preferred sales channel for many brands, especially those in the mid-price segment seeking visibility and volume.
| Rank Europe | City – Outlet Center | Country | Operator | Avg. Score** |
|---|---|---|---|---|
| 1 | Serravalle Scrivia – Designer Outlet Serravalle | Italy | McArthurGlen | 1.67 |
| 2 | Roermond – McArthurGlen Roermond | Netherlands | McArthurGlen | 1.77 |
| 3* | Vila do Conde / Movidas – Porto Fashion Outlet | Portugal | VIA Outlets | 1.83 |
| 3* | Malaga – Designer Outlet Malaga | Spain | McArthurGlen | 1.83 |
| 5 | Kildare – Kildare Village | Ireland | Value Retail | 1.88 |
| 6* | Landquart – Landquart Fashion Outlet | Switzerland | VIA Outlets | 1.90 |
| 6* | Ellesmere Port – McArthurGlen Cheshire Oaks | United Kingdom | McArthurGlen | 1.90 |
| 8* | Castel Romano – Designer Outlet Castel Romano | Italy | McArthurGlen | 1.91 |
| 8* | Noventa di Piave – McArthurGlen Noventa di Piave | Italy | McArthurGlen | 1.91 |
| 10 | Parndorf – McArthurGlen Parndorf | Austria | McArthurGlen | 1.92 |
| 11* | La Roca del Vallès – La Roca Village | Spain | Value Retail | 2.00 |
| 11* | San Sebastian de Los Reyes – The Style Outlets | Spain | Neinver | 2.00 |
| 11* | York – Designer Outlet York | United Kingdom | McArthurGlen | 2.00 |
| 14 | Metzingen – Outletcity Metzingen | Germany | Outletcity AG | 2.09 |
| 15 | Piaseczno – Designer Outlet Warsaw | Poland | ROS | 2.11 |
| 16 | Las Rozas – Las Rozas Village | Spain | Value Retail | 2.14 |
| 17 | Talange – Marques Avenue | France | Marques Avenue | 2.17 |
| 18* | Villefontaine – The Village | France | La Compagnie de Phalsbourg | 2.20 |
| 18* | Sosnowiec – Designer Outlet Sosnowiec | Poland | ROS | 2.20 |
| 18* | Portsmouth – Gunwharf Quays | United Kingdom | Land Securities | 2.20 |
What’s Next: Hybrid Concepts and Measured Expansion
Looking ahead, the outlet sector isn’t rushing into expansion, but there are signs of renewed interest. The average number of new store openings per brand has ticked up slightly for 2024, reversing a downward trend that had persisted since 2018. Most of the activity centers on expanding existing sites and optimizing layouts rather than launching brand-new outlet centers.
Interestingly, hybrid retail concepts—combining traditional shopping centers with outlet areas—are gaining traction after years of tenant skepticism. A case in point is the outlet area at Huma Shopping Center near Bonn, Germany, which has seen strong tenant satisfaction. While luxury brands continue to shy away from these spaces, mid-market labels are finding them increasingly attractive.
As Europe’s outlet market evolves, the story of Serravalle is more than a one-off win—it’s a sign that shopper behavior, tourism patterns, and retail expectations are shifting. For travelers, especially those journeying through Southern Europe, it may be time to add a detour to the outlet village map.
